Shopping cart abandonment is a major drain on the profits of an e-commerce business. It also creates a significant gap in conversions. According to some recent studies, 65% of cart abandonment leads to a gap of 97.9% in conversions.
Further, it results in annual losses amounting up to 18 billion USD for the markets. So, marketers need to take every vital step to prevent cart abandonment.
To ensure that your customers complete the checkout, here are some strategies that can help:
Simplify the Checkout Process
Nearly 21% of online shoppers abandon their shopping cart due to lengthy or daunting checkout processes. With an easy process, you can improve conversion rates by up to 35%. If you force buyers to register or create an account before checkout, it makes them wary of buying from your site.
Also, the process of registration may be complicated or require personal information that impedes the checkout. Remove these requirements from your site and streamline the checkout process by reducing the steps to complete it.
Enhance the Speed of Your Site
If a web page takes more than 3-4 seconds to load, the customers are more likely to leave the site. Page speed is a crucial factor in reducing shopping cart abandonment.
Since buyers expect a seamless process, high-performance and speed will build your reliability on your portal. So, take steps to beef up the page loading speed by optimizing images, caching different files, and using a content delivery network.
Provide Alternative Payment Modes
When creating checkout pages for your e-commerce websites, enhance the overall customer experience by removing every obstacle. A single mode of payment or limited choices can be a major hurdle between your prospect and its conversion.
Though credit card payments are a no-brainer, you also need alternative methods like PayPal, Amazon Pay, Google Pay, etc. to facilitate the customers when it comes to fast checkout.
Use Thumbnail Images of Cart Items
Checking the items ready for purchase or finding an existing shopping cart should be easy for the customers. If your site requires them to backtrack for this purpose, it may frustrate the users.
Using thumbnail images of products in the shopping cart not only saves the time spent on navigating the website but also prevents distractions or hesitations when buyers can see the products added to their cart throughout the checkout process. It also consolidates the lengthy operations in one single page while keeping the actual products in the minds of the buyer at all times.
Use Robust Website Security
A majority of buyers will abandon their shopping cart if the website does not carry a security badge. It is essential to ensure secure checkout on your website through security badges, SSL certificates, and password encryption.
These security measures ensure the customer that your site is completely safe to share their private information like address, contact numbers, and bank details. Also, use fraud identification tools on your website to detect threats leading to loss of revenue or infringement of customer privacy.
Apply these strategies to prevent shopping cart abandonment and improve sales on your e-commerce website.